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refund the fiscal cliff. it is a tax rate that is increasingly seen as unfair. it is willy-nilly. they say that they are increasing the number of people are insured. and they say wait a second, that's not how it works. charles: the same argument that they use, by the same token, it is so odd that they singled out medical device makers and tanning salons are it is like -- what the heck? singh that we need to go after those nefarious medical devices. we need to get those guys. charles: you know, at some point, people have to understand. great innovation and breakthroughs will be delayed. it is hard to calculate how many, but there is no doubt that this will end up killing people. >> the issue is with venture capitalism, it's already pulled back. a 42% plunge in funding of medical device makers since last year. already companies like stryker announcing job layoffs. whether we see this as part of the fiscal cliff deal, we are pushing for it. charles: at some point they do need to address this. this hurts every si
refund the fiscal cliff. it is a tax rate that is increasingly seen as unfair. it is willy-nilly. they say that they are increasing the number of people are insured. and they say wait a second, that's not how it works. charles: the same argument that they use, by the same token, it is so odd that they singled out medical device makers and tanning salons are it is like -- what the heck? singh that we need to go after those nefarious medical devices. we need to get those guys. charles: you know,...
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and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make addition
and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we...
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tracy: the fiscal cliff very well might be averted but obamacare is here to say. medical device tax is here to stay. what you said earlier, the whole notion that might be a taboo industry is here to stay too. >> don't know about the ken duke industry. tracy: attached industry. >> i have a balanced view of the affordable care act. as a physician i have to say i am pleased that thirty million more people or so are going to have access to basic health care coverage. i don't think you can have a civilized country without affording that to your citizens so right away i am supportive of that the industry we are supportive of that and on the other hand there are aspects that are disturbing. there's a provision that many people don't know about called the independent payment advisory board which is going to be an unelected group of people charged with cutting costs but without necessarily having a strategy. tracy: all these unintended consequences of obamacare and we wish we had more time to talk about them. thanks for being here. i hope they are listening to you. ashley:
tracy: the fiscal cliff very well might be averted but obamacare is here to say. medical device tax is here to stay. what you said earlier, the whole notion that might be a taboo industry is here to stay too. >> don't know about the ken duke industry. tracy: attached industry. >> i have a balanced view of the affordable care act. as a physician i have to say i am pleased that thirty million more people or so are going to have access to basic health care coverage. i don't think you...
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the fiscal cliff is all about tax hikes. it is not about the spending cuts. then's a problem because we have sluggish growth and we have a spending problem and 16 trillion in debt and raising those taxes aren't going to fix our problems. i've never heard of taxing our way into prosperity. and so i don't understand why the discussion is centering so much around the hikes and not around cutting the spending, which is what we need to do. stuart: the president actually wants 50 billion in extra spending in the -- charles: he also wants the power to raise the debt willy-nilly whenever he wants. the g.o.p. lost that. they should have drawn that line in the sand a long time ago. it's always been about revenues. boehner's already given in on that. it's just how do we come to that numb number? here's the thing, the president isn't going to listen to anything outside of the oval office. what they are telling him, you have a mandate, you have a decisive victory, pound, pound, pound. stuart: i think he will have a tax increase on the rich, promise of spending cuts -- cha
the fiscal cliff is all about tax hikes. it is not about the spending cuts. then's a problem because we have sluggish growth and we have a spending problem and 16 trillion in debt and raising those taxes aren't going to fix our problems. i've never heard of taxing our way into prosperity. and so i don't understand why the discussion is centering so much around the hikes and not around cutting the spending, which is what we need to do. stuart: the president actually wants 50 billion in extra...
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cliff. decisions about taxes and spending are extremely important especially when we are adding $300 billion a day to our debt but the constant bickering of dueling politicians on both sides of the aisle, the endless kicking of the can, the brinkmanship as we approach that disaster is making all americans angry. i think you turned off and tuned out and i don't blame you. who can sit still and watch our country dragged into ruinous-and not be a little frustrated? as i said many times i came here from europe 40 years ago and instantly felt the warm embrace of a truly generous and free society and now i see america galloping down the european road. we have already reached european levels of debt and our leaders give as political pablum. we deserve better than this. the other night i left the fiscal cliff behind and took a walk through new york city. it was great. the lights, the christmas tree, rockefeller center, crowds of people with their children. was such a switch. "varney and company" wil
cliff. decisions about taxes and spending are extremely important especially when we are adding $300 billion a day to our debt but the constant bickering of dueling politicians on both sides of the aisle, the endless kicking of the can, the brinkmanship as we approach that disaster is making all americans angry. i think you turned off and tuned out and i don't blame you. who can sit still and watch our country dragged into ruinous-and not be a little frustrated? as i said many times i came here...
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cliff, the president is in detroit to speak at a diesel engine plant about the fiscal cliff. he'll talk at detroit diesel which is owned by germany's daimler, on extending middle class tax cuts for workers to keep pressure on republicans to cave on this issue, this after the president and speaker boehner met at the white house yesterday. a spokesperson for boehner says today, quote: discussions with the white house are taking place, but we have no detail to share about the substance of these conversations. he adds that republicans are waiting on specific spending cut proposals from the president to get a deal on the fiscal cliff. but a few republicans now say that maybe the best strategy for them is to accept some higher tax rate that is the president is demanding, get that off the table and then come back to entitlement reform early next year when the president asks for an increase in the debt ceiling. then republicans will have a little more leverage. >> there's a hardening on the republican side. we're not going to raise the debt ceiling. we're not going to let obama borro
cliff, the president is in detroit to speak at a diesel engine plant about the fiscal cliff. he'll talk at detroit diesel which is owned by germany's daimler, on extending middle class tax cuts for workers to keep pressure on republicans to cave on this issue, this after the president and speaker boehner met at the white house yesterday. a spokesperson for boehner says today, quote: discussions with the white house are taking place, but we have no detail to share about the substance of these...
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all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new evidence of obamacare doing more harm than good to your bottom-line. we will have the latest and we are on the case next in "the willis report." speed. tracy: fannie mae and anyone sparking outrage over six-figure salaries. many executives are raking in serious money. these agencies have accrued $138 billion in taxpayer funding. they still owe us $137 billion of that. for more on this, let's bring in rich edson. a former executive vice president. he is now president and fellow -- excuse me, resident fellow at the american enterprise institute. these salaries are really bothering a lot o
all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new...
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a lot of other things in the fiscal cliff. i'm assuming as i say that, they don't just get rid of the mortgage deductability and not touch the rest of the tax code. obviously that would be really bizarre. housing has turned around. it's beginning to gain. the september data we saw, this is the point in the air when things begin to get soft because of the fall season and everything. tracy: sure. >> prices continue to rise. on a national basis and in most of the cities it resolved which is clear plus. the other reports, housing starts were up very sharply the last report. sales are doing better. sales of new homes are doing better. across the board most reports, not every report every month but just about all the data we're see something positive. and housing, housing is actually making a contribution to the economy. not like we would like but i think we'll take anything we can get. ashley: obviously the economy is so reliant on the consumer a big part of the economy. can they support the recovery? >> i think they can sort of ke
a lot of other things in the fiscal cliff. i'm assuming as i say that, they don't just get rid of the mortgage deductability and not touch the rest of the tax code. obviously that would be really bizarre. housing has turned around. it's beginning to gain. the september data we saw, this is the point in the air when things begin to get soft because of the fall season and everything. tracy: sure. >> prices continue to rise. on a national basis and in most of the cities it resolved which is...
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>> the whole thing with the tax increase is a red herring for the fiscal cliff discussions because we need entitlement reform. people have spoken and are not interested in anything. their focus is tax the riff, but people are going to make decisions, but that's put off into the future. you will still see momentum from a positive housing cycle, all the things the fed are doing, catch up? eventually hurt the economy, hurt in a very big way, but not out of the gate. cheryl: 25% of gdp spent, and you say it's going higher and we have a spending problem. >> i totally believe wholeheartedly independent, absolutely in the g.o.p. camp. this whole discussion is absolute crazy. that 25% is going to 40%, and increasing taxes on the riching thing -- accounts for nine days of spending. craziness. cheryl: we have a president who is in the financially responsible, and that, in your opinion, the g.o.p. will cave more than they want to because they know they will get blamed if we get down to new year's eve and there's no deal. >> the world has spoken. tax the rich, keep the ball, there's nothing that'
>> the whole thing with the tax increase is a red herring for the fiscal cliff discussions because we need entitlement reform. people have spoken and are not interested in anything. their focus is tax the riff, but people are going to make decisions, but that's put off into the future. you will still see momentum from a positive housing cycle, all the things the fed are doing, catch up? eventually hurt the economy, hurt in a very big way, but not out of the gate. cheryl: 25% of gdp spent,...
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sandra: this is not good news as we face a fiscal cliff. a lot of folks face potentially higher taxes in the new year and higher health care costs. you're making reasoning behind this very simple. that is that their costs are going up. they're expecting an influx of new patients to becoming in. that leads naturally to the question do we expect others to follow in their footsteps? >> i think it is quite possible. judging what happens to blue shield, how beat up they get in the public media, what other insurance companies will do. we've already seen employers without insurance that are self-insured like wal-mart begin to do this. everybody is sort of covering their bet now, not knowing the impact of the new requirements under the affordable care act. sandra: so it's safe to say in the new year we could all face higher health care cost, is that reasonable? >> i think it is very predictable you should expect your premiums to go up as people try to respond to the unknown. sandra: thank you, sir. add that to the list of cost going up in the new y
sandra: this is not good news as we face a fiscal cliff. a lot of folks face potentially higher taxes in the new year and higher health care costs. you're making reasoning behind this very simple. that is that their costs are going up. they're expecting an influx of new patients to becoming in. that leads naturally to the question do we expect others to follow in their footsteps? >> i think it is quite possible. judging what happens to blue shield, how beat up they get in the public...
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rates. >> that seems to be the key to this entire fiscal cliff mess. president obama saying the roundtable was struck by ceo's willingness to pay higher taxes and patriotic duty and the president also talked about speculation they may want another death to inflate next year. he has to break that habit before it starts though it is of course up to congress to raise the debt ceiling by passing along. thank you. dennis: our next guest says they have the perfect solution for the financial woes. joining us now, one of those critical of the house speaker. thank you for being with us. let's just cut to the chase, what is your fix, sir? >> when you think fair share to the president's administration says, think flat tax. the president talks about warren buffett should pay with his secretary pays, but he is not proposed a single idea that will make that happen. we have the perfect idea. you want them to pay the same rate, i want them to pay the same rate, but i have a way to do it. you give a 15% flat tax on income taxed, capital gains, gift tax, to put it acros
rates. >> that seems to be the key to this entire fiscal cliff mess. president obama saying the roundtable was struck by ceo's willingness to pay higher taxes and patriotic duty and the president also talked about speculation they may want another death to inflate next year. he has to break that habit before it starts though it is of course up to congress to raise the debt ceiling by passing along. thank you. dennis: our next guest says they have the perfect solution for the financial...
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all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with charles payne. this hour he is looking at online networking site linked in. getting a little bounce, but has been on a tear. charles: this is a incredible stock. you put six flights out of business. i'm telling you right now. today part of the reason it is up, kind of odd, some sort of stock speculation mayor bloomberg may be interested in doing something, taking it over. even without that, this is a stock i like a lot. at least the third time this year my subscribers are in a stock. the latter earning report my two cents coby district by 100%, the sto
all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with...